Robinhood extends prediction market trading hours to around the clock

Robinhood has extended trading hours for its prediction markets to 24 hours a day, seven days a week. The company announced the change on X.

This expansion follows an increase in activity on Robinhood's prediction markets. The platform recorded 2.3 billion event contracts traded in the third quarter and 2.5 billion in October.

The prediction market product, launched earlier this year, has become a growing segment for the broker. Robinhood reported that this unit, combined with Bitstamp, generated approximately $100 million in annualized revenue. A specific revenue figure for prediction markets alone was not provided.

Initial contracts focused on interest rate decisions and sports tournaments. The adjustment in trading hours aligns with changes implemented by Kalshi, the regulated exchange supporting Robinhood's event-based contracts. This allows continuous access for retail traders to outcomes related to economic or sports events.

In its latest quarterly results, Robinhood reported growth across several revenue streams. Cryptocurrency trading revenue reached $268 million, options trading generated $304 million, and equities revenue increased to $86 million. The platform's notional crypto trading volume was $80 billion, split between the Robinhood app and Bitstamp.

Interest income rose 66 percent to $456 million. Revenue from other sources, including subscriptions, doubled to $88 million, with Robinhood Gold subscribers reaching 3.9 million. Net income increased 271 percent year-over-year to $556 million, and diluted earnings per share grew 259 percent.

Robinhood also announced that CFO Jason Warnick will retire next year, with Shiv Verma appointed as his successor.